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MN30444: UK tax and tax planning for the growing business

[Page last updated: 20 April 2021]

Academic Year: 2021/2
Owning Department/School: School of Management
Credits: 6      [equivalent to 12 CATS credits]
Notional Study Hours: 120
Level: Honours (FHEQ level 6)
Period:
Semester 2
Assessment Summary: CW 25%, EX 75%
Supplementary Assessment:
Like-for-like reassessment (where allowed by programme regulations)
Requisites: Before taking this module you must take MN20018 OR take MN20485
In taking this module you cannot take MN20444
Description: Aims:
The unit aims to introduce students to:
* The principles of effective tax system design, its impact on individuals, groups, the wider economy and society
* The main types of taxation:
- Income taxes: both business and personal
- Capital taxes
- Company taxation
- Indirect taxation
- International taxation issues
* Types of tax planning opportunities and their application for individuals, family run businesses, SMEs and international businesses.

Learning Outcomes:
On completing this unit students will be able to:
* Evaluate the impact of current developments in taxation, on individuals, groups, the wider economy and society including
* Discuss the ethical and environmental issues arising from tax regulation;
* Prepare computations of UK tax liabilities for each of the main types of taxation: income tax, capital gains tax, corporation tax and VAT
* Identify and evaluate opportunities for minimising the impact of taxation liabilities on individuals, family run businesses, SMEs and international business
* Provide tax related costing, planning and decision making information to individuals, businesses and corporate entities in the UK.

Skills:
Intellectual skills
* present concepts and views effectively and discuss and defend ideas through written language (F/A)
* extract, process and present numerical information for a specific purpose (TFA)
Professional skills
* Computational skills consistent with exemptions from taxation assessment in the examinations for the three main professional accountancy bodies: ICAEW, CIMA, ACCA (TA)
* Ability to apply knowledge of taxation issues in an advisory capacity (TFA)
Practical skills
* use internet and library search skills to access contemporary relevant information (FA)
* use IT competently (general IT skills including use of standard word processing packages and internet) (F)
Key skills
* act independently in planning and undertaking tasks, reflect on own learning and seek and make use of feedback. (F)

Content:
Principles of effective tax system design; ethical and environmental issues arising from tax system design; personal income tax; business and property taxation; capital gains tax; corporation tax; value added tax; international taxation issues. Tax planning issues will be integrated and woven through the content as the module progresses and will be delivered in the context of a growing entrepreneurial business.

Programme availability:
NB. Postgraduate programme information will be added when the postgraduate catalogues are published in August 2021

MN30444 is Optional on the following programmes:

School of Management
  • UMMN-AFB02 : BSc(Hons) Accounting and Finance (Year 3)
  • UMMN-AKB02 : BSc(Hons) Accounting and Finance with Year long work placement (Year 4)
  • UMMN-ANB01 : BSc(Hons) Business Administration with Thin sandwich placement(s) (Year 4)
  • UMMN-AYB06 : BSc(Hons) International Management with Year Abroad (Year 4)
  • UMMN-AFB04 : BSc(Hons) Management (Year 3)
  • UMMN-AKB04 : BSc(Hons) Management with Year long work placement (Year 4)
  • UMMN-AKB05 : BSc(Hons) Management with Marketing with Year long work placement (Year 4)
Department of Politics, Languages and International Studies
  • UXXX-AYB05 : BSc(Hons) International Management and Modern Languages (French) with Year Abroad (Year 4)
  • UXXX-AYB04 : BSc(Hons) International Management and Modern Languages (German) with Year Abroad (Year 4)
  • UXXX-AYB06 : BSc(Hons) International Management and Modern Languages (Spanish) with Year Abroad (Year 4)

Notes:

  • This unit catalogue is applicable for the 2021/22 academic year only. Students continuing their studies into 2022/23 and beyond should not assume that this unit will be available in future years in the format displayed here for 2021/22.
  • Programmes and units are subject to change in accordance with normal University procedures.
  • Availability of units will be subject to constraints such as staff availability, minimum and maximum group sizes, and timetabling factors as well as a student's ability to meet any pre-requisite rules.
  • Find out more about these and other important University terms and conditions here.